Matrix Service (NASDAQ:MTRX) Announces Earnings Results

Matrix Service (NASDAQ:MTRX) released its earnings results on Wednesday. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01), Zacks reports. Matrix Service had a negative net margin of 1.77% and a negative return on equity of 3.60%.

Matrix Service Trading Up 1.5%

MTRX traded up $0.16 during trading on Wednesday, reaching $10.86. 444,406 shares of the company’s stock were exchanged, compared to its average volume of 259,111. Matrix Service has a one year low of $9.88 and a one year high of $15.97. The stock has a market capitalization of $305.49 million, a PE ratio of -20.49, a price-to-earnings-growth ratio of 0.86 and a beta of 0.98. The firm has a fifty day moving average price of $12.06 and a two-hundred day moving average price of $12.10.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Matrix Service in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Matrix Service currently has an average rating of “Moderate Buy” and an average target price of $20.50.

Hedge Funds Weigh In On Matrix Service

A number of hedge funds have recently modified their holdings of MTRX. XTX Topco Ltd increased its holdings in Matrix Service by 5.5% in the fourth quarter. XTX Topco Ltd now owns 48,808 shares of the company’s stock valued at $571,000 after purchasing an additional 2,549 shares during the period. Susquehanna Fundamental Investments LLC lifted its holdings in Matrix Service by 73.5% during the 4th quarter. Susquehanna Fundamental Investments LLC now owns 40,493 shares of the company’s stock worth $474,000 after buying an additional 17,158 shares during the period. Occudo Quantitative Strategies LP bought a new stake in shares of Matrix Service in the 4th quarter valued at about $177,000. Oxford Asset Management LLP acquired a new stake in shares of Matrix Service in the fourth quarter valued at about $293,000. Finally, Man Group plc acquired a new stake in shares of Matrix Service in the fourth quarter valued at about $654,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

About Matrix Service

Matrix Service Company (NASDAQ: MTRX) is a provider of engineered construction, fabrication and maintenance services to the energy, industrial and power markets. The firm offers a full suite of engineering, procurement and construction (EPC) solutions for clients in the oil and gas, petrochemical, refining, mining, fertilizer and power generation industries. Its capabilities span from front-end engineering design through plant commissioning, with specializations in modular process skid fabrication, structural steel erection and complex piping systems.

The company’s service portfolio includes onshore and offshore pipe fabrication, equipment setting, industrial maintenance and shutdown services, electrical and instrumentation installation, and skid-mount and modular construction.